Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (“the Schedule”) includes the federal award activity of The David & Margaret Home, Inc. (“David & Margaret”), under the programs of the federal government for the year ended June 30, 2025. The Schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of David & Margaret, it is not intended to and does not present the financial position, changes in net assets, or cash flows of David & Margaret.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 200, Subpart E (Cost Principles), wherein certain types of expenditures are not allowed or are limited as to reimbursement. David & Margaret has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
David & Margaret did not provide any federal awards to sub-recipients.
David & Margaret did not receive federal insurance, loans, or non-cash assistance during the year then ended June 30, 2025 that were subject to the Uniform Guidance.